ZURICH (Reuters) – UBS will not need to tap the Swiss government’s 9 billion Swiss franc ($10.27 billion) backstop agreed as part of the state-sponsored takeover of Credit Suisse, Switzerland’s biggest bank said on Friday.
“UBS Group AG Voluntarily Terminates Loss Protection Agreement and Public Liquidity Backstop Guaranteed by Swiss Government and Credit Suisse AG Fully Repaid ELA+ Loan,” the bank said.
($1 = 0.8760 Swiss francs)
(Reporting by Noele Illien; Editing by Miranda Murray)
